Research

At B. Riley, our research process is an interactive one where we perform extensive due diligence on companies until the analyst develops the knowledge base and understanding of the company and the industry to make a recommendation. Our analysts continuously monitor industry developments and communicate with the management, competitors, suppliers and customers of the companies we follow, regularly communicating our findings through Research Updates and daily Morning Notes.

While we do not necessarily publish research on all of the companies we review, the knowledge base and understanding of many of our monitored companies parallels that of our covered companies. We actively cover over 100 companies and monitor an additional 100. Our analysts cover small to mid-cap companies that are under-followed or misunderstood by Wall Street. We believe that the pricing of small cap equities is frequently inefficient, and therefore provides the greatest potential rewards to diligent security analysis.

This Week's Research

  • 04/24/14 Update DCO ($24.41, Buy; $33.50 PT): Earnings Preview: Boeing Commercial Build, Non-A&D Recovery to Drive Results in FY ‘14
  • 04/24/14 Update LRCX ($54.50, Buy; $67.00 PT): Reports Beat/Raise With C14 Outlook Intact; Add For Upside To $67.00 PT
  • 04/24/14 Update ANGI ($12.82, Buy; $25.00 PT): 1Q14 was the Trough as Operational Metrics Rebound; Increasing Estimates and Maintaining $25.00 PT
  • 04/24/14 Update DWCH ($13.94, Buy; $25.00 PT): Announces F2Q Results Consistent with Its Negative Pre-Announcement
  • 04/24/14 Update NOW ($53.07, Neutral; $60.00 PT): Solid Quarter; Solid Guidance; Steady Business Trends Continue
  • 04/24/14 Morning Note B. Riley & Co. Morning Notes: AFOP, ANGI, DCO, DWCH, LRCX, MPX, NOW, PII, PTC, RDEN, SIX, TUP, TXN
  • 04/24/14 Update PII ($139.57, Buy; $155.00 PT): ORV Market Share Gains, PG&A Momentum, and GM% Upside Propel Polaris to Beat & Raise; Reiterate Buy & $155 PT
  • 04/24/14 Update SIX ($39.91, Buy; $50.00 PT): Reports Q1 & Strong Guest Spending Trends; Favorable Comps Ahead
  • 04/24/14 Update MPX ($7.60, Neutral; $8.25 PT): Reports 1Q14 Below Expectations, Production at Risk as Retail Weakness Persists; Lowering Estimates & PT to $8.25;…
  • 04/24/14 Update TUP ($85.05, Buy; $103.00 PT): Boosting EPS Estimates and Price Target from $102 to $103
  • 04/24/14 Update AFOP ($18.90, Buy; $20.00 PT): Earnings Preview: Already Raised 1Q Revenue Forecast; Focus will be on 2Q Guide and Comments; Wait for the Print
  • 04/24/14 Update TXN ($48.00, Buy; $56.00 PT): Analog Bellwether Beats/Raises; Hike Above-Street Ests And Tgt To $56.0
  • 04/24/14 Update PTC ($34.95, Buy; $47.00 PT): Solid F2Q Driven by Strength in Its PLM Business; In-Line F3Q Guidance
  • 04/23/14 Update WDFC ($74.18, Buy; $91.00 PT): Expect a Doubling of Sales in 10 Years or Less
  • 04/23/14 Update BEBE ($5.80, Buy; $9.00 PT): Q3 shortfall primarily due to weather, calendar shift, traffic; underlying progress continues; expect sequential improvement;…
  • 04/23/14 Morning Note B. Riley & Co. Morning Notes: BEBE, CTG, KMB, MANH, MDSO, P, PCTI, SKX, SWKS, WDFC
  • 04/23/14 Update P ($29.37, Buy; $38.00 PT): Preview: Expect In Line Qtr and Guidance; Prepare for 2H Outperformance
  • 04/23/14 Update KMB ($110.94, Neutral; $98.00 PT): 1Q14 EPS Beat But Sales Miss; Maintaining EPS Estimates and $98 PT
  • 04/23/14 Update SKX ($36.87, Buy; $49.00 PT): Delivers a solid Q1 beat; backlog up 35%; 5.6% retail-comp; momentum continues; increasing estimates and PT from $45…
  • 04/23/14 Update MDSO ($40.71, Buy; $49.00 PT): Q1 Results Miss but Full Year Intact; Upgrading to Buy and Target to $49
  • 04/23/14 Update PCTI ($8.47, Buy; $11.50 PT): Earnings Preview: Look for Slow Start to Back-end Weighted 2014
  • 04/23/14 Update SWKS ($41.00, Buy; $50.00 PT): Strong Beat/Raise Pulls Tgt Model Into C14; Buy For Upside To $50.0 PT
  • 04/23/14 Update MANH ($34.25, Buy; $43.00 PT): F1Q Recap: 12th Consecutive Quarter of Solid Execution; Raising Estimates
  • 04/23/14 Update CTG ($16.77, Buy; $17.75 PT): Reports Q1 ’14 Results; Revises FY ’14 Guidance Downward; Lowering Estimates and Price Target; Reiterate Buy Rating
  • 04/22/14 Update PII ($135.70, Buy; $155.00 PT): Dealer Survey Suggests Polaris is Poised to Power Through 1Q14 Weather, En Route to 2014 Guidance Raise; Reiterate…
  • 04/22/14 Update SIX ($39.98, Buy; $50.00 PT): Earnings Preview For Seasonally Slow Q1; Looking Forward to Favorable Q2/Q3 Comparisons
  • 04/22/14 Update B. Riley & Co. Industry Update: Retail, Apparel, and Footwear
  • 04/22/14 Update B. Riley & Co. Industry Update: Optical Components
  • 04/22/14 Update EOPN ($18.90, Buy; $35.00 PT): Expecting Strong F4Q Bookings Result; FY15 Bookings Could Be Back-End Loaded
  • 04/22/14 Update ABTL ($12.74, Buy; $22.00 PT): AutoNation Comments not Indicative of NT Pressure on Lead Generation Companies; ABTL Potentially Less So
  • 04/22/14 Update Discontinuing Coverage: RDA
  • 04/22/14 Update NTCT ($34.85, Buy; $44.00 PT): Q4 ’14 Earnings Preview; Reiterate Buy Rating and $44.00 Price Target
  • 04/21/14 Initiation of Coverage IMMR ($10.78, Buy; $16.50): Market Leader in the Rapidly Expanding Haptic Technology Market; Initiating Coverage with Buy and $16.50 PT
  • 04/21/14 Update IVAC ($8.92, Neutral; $7.50 PT): Preliminary Results Show Deep 2Q14 Revenue Trough; Maintain Neutral
  • 04/21/14 Update ANGI ($12.10, Buy; $25.00 PT): Preview: Expect In Line Revenue Results/Guidance as Marketing Mix Could Still be in Flux
  • 04/21/14 Update B. Riley & Co. Industry Update: Software – Assessing Any Additional Downside Risk; Prefer Growth with Leverage
  • 04/21/14 Morning Note B. Riley & Co. Morning Notes: ATHN, CSGP, CTG, GFN, IMAX, JAKK, LGF, MANH, MAT, MOVE, PTC, RGC, SAP; Semiconductors & Capital Equipment
  • 04/21/14 Update CSGP ($165.60, Buy; $210.00 PT): Raising Rating to Buy as Stock Price Downdraft Affords Opportunity to Own Solid Long Term Growth Story with Substantial…
  • 04/21/14 Update MANH ($34.03, Buy; $43.00 PT): F1Q Preview: Expecting Another Solid, Steady Result
  • 04/21/14 Update MOVE ($10.79, Buy; $18.00 PT): Pounding the Table as Value Improves Significantly; Underappreciated NAR Advertising Pivot to Drive Traffic/Awareness
  • 04/21/14 Update CTG ($16.81, Buy; $18.25 PT): Q1 ’14 Earnings Preview; Reiterate Buy Rating and $18.25 Price Target
  • 04/21/14 Update SAP (€56.41, Neutral; €60.00 PT): F1Q Results Indicate Steady Business Trends; Reiterates FY14 Guidance; New Estimates Reflect Greater Currency…
  • 04/21/14 Update IMAX ($27.96, Buy; $34.00 PT): Increasing Q1 Estimates Ahead of Print; Box Office Gaining Momentum into Strong Summer Line-Up and Expected Operating…
  • 04/21/14 Update PTC ($35.00, Buy; $47.00 PT): F2Q Earnings Preview: Expecting an In-Line Quarter, In-Line Guidance
  • 04/21/14 Update MAT ($37.47, Neutral; $39.00 PT): Cutting EPS Estimates and Price Target From $41.00 to $39.00
  • 04/21/14 Update ATHN ($145.58, Neutral; $150.00 PT): Q1 Recap; Strong Doctor Adds Should Offset Revenue/EPS Miss; Reduce Target to $150
  • 04/21/14 Update LGF ($26.69, Buy; $38.00 PT): Transitioning Analyst Coverage; Maintaining Buy Rating and Lowering Price Target from $40.00 to $38.00
  • 04/21/14 Update JAKK ($8.98, Buy; $11.00 PT): Raising Estimates, Price Target to $11 and Rating to Buy
  • 04/21/14 Update 1Q14 Wk #2 Preview: Mixed Start Into SWKS, LRCX, TXN, BRCM, MXIM, KLAC, MTSN
  • 04/21/14 Update RGC ($18.83, Neutral; $20.50 PT): Boosting Q1 Estimates Ahead of Report on Strong Box Office and Attendance/Ticket Shift Benefit; Remain Cautious…